EUR/USD Price Analysis: Further upside could retest 1.1100 and above

EUR/USD gathers extra pace and surpasses the 1.1000 hurdle.
Immediately to the upside aligns the weekly high at 1.1121.

Pablo Piovano FXStreet

EUR/USD adds to Monday’s advance and retakes the psychological barrier at the 1.1000 figure.

In case bulls remain in control, EUR/USD could extend the rebound to the weekly top at 1.1121 (March 10) ahead of the temporary hurdle at the 20-day SMA at 1.1127. The selling pressure is likely to be alleviated once the pair clears the 6-month resistance line, today just below 1.1300.

The negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1547.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0997
Today Daily Change	89
Today Daily Change %	0.52
Today daily open	1.094

Trends
Daily SMA20	1.1149
Daily SMA50	1.1263
Daily SMA100	1.1319
Daily SMA200	1.1555

Levels
Previous Daily High	1.0994
Previous Daily Low	1.0901
Previous Weekly High	1.1121
Previous Weekly Low	1.0806
Previous Monthly High	1.1495
Previous Monthly Low	1.1106
Daily Fibonacci 38.2%	1.0958
Daily Fibonacci 61.8%	1.0936
Daily Pivot Point S1	1.0896
Daily Pivot Point S2	1.0852
Daily Pivot Point S3	1.0803
Daily Pivot Point R1	1.0989
Daily Pivot Point R2	1.1038
Daily Pivot Point R3	1.1082

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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